The festivities have been halted, if only for a short while. Although the Dow is down a mere 5 points, most stocks are getting man-slaughtered, particularly those tied to crude. As a point in fact, crude always gets smashed in January, yet here I am long an abundance of oil stocks. Aside from all of the talk and bravado, I am prepared to lose no more than 10% on this opening salvo. At the moment, I am down a staggering 0.64% for the year.
It’s important to put things into perspective on days like today. I’ve been spoiled with instant double digit gains for months now and find it tedious to absorb paper losses. Naturally, due to the over-bullish and confident environment we find ourselves in, should the bids dry up, there will be many pikers caught permanently in the net. Because of the company I am with (pikers), I will exercise extreme caution when trading this tape, which entails going to cash at a drop of a hat.
Today’s sell off is simply too anemic to scare me out, so I bought more. I started a position in JOSB, despite their low-end commercials annoying me to no end. Goldman owns a bunch and there is a large short positions: a recipe for a squeeze.
Into the bell, I am sitting on my hands, keeping faith in Reverend Bernanke’s holy hands to set this fucker on its proper course.
Amen.
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right right, brotha…
FLY IS GOD
No He’s not!!!
I bought some TNA this morning for a continuation of the rally and got hammered!! It is firming up now, but the damage is done. I will be out by week’s end. Maybe Scott Bleier is right.
Nah. can’t be! Just beleive!
Scott will eventually be right. I think….
Honestly though, I am quite concerned with gold down as much as it is. It could get ugly in the last 30 minutes of trading…
Fort Lee indeud ….
“I” before “E” except after “C” …. Jeesh!
thats what happens when you are “tapping” the letters out on a tiny screen…
But i and e aren’t even close to eachother on your tiny screen. Excuse denied.
Scott said to “ring the bell” in mid-October. The S&P is up 7% since then.
0.64%, shit here come the redemptions.
Bought some ERII here. Nice looking chart.
JOSB is on my list of great plays for a downmarket / recessionary environment. Speaking of which, how about that AZO?
BTW – Don’t know where you got out of Chinese Lotto play SHZ, but wowsa was that a monster. Aside from that, you playing the rare earth fever at this point?
hovering around -7% today due to heavy PM exposure.
not afraid. not even phased.
the tea leaf psychic TAs are too busy busting out their rulers and Ouija boards…
I bought today with balls of silver.
Not like you weren’t cautioned.
_____
I need not caution. Dips happen.
What the hell ever happened to JOSB? When I was getting out of college, they were semi-respectable… maybe a little bit lower end than Brooks Brothers… Now I see their “12-suits-for-a -dollar” tv spots and the only thing I can think of is a cheezy Sy Simms commercial.
________
I’m wearing some JOSB as we speak. Good quality, although I only buy their highest priced shirts, handcrafted in Indonesia.
So you are not a lawyer – I guess I’m way off.
My second guess was a gold miner.
Close, I think Jake is the brains behind Cash4Gold.
Jake is a full time bookie at Churchill Downs.
And very successful at that.
lol, he owns 3 kfc’s around town. everything’s got gravy. lots of gravy
particularly those tied to crude.
ATPG laughs at this.
Got short this morning in oil when we couldn’t close the 91.55 close from yesterday .. there’s a huge gap below that i am sure will get filled by the end of this week to scare the shit out of all the longs.
Lol @ 12 suits for a dollar
Am I right, though? When the hell did they go to the bazaar sale mode like that?
______
Fly,
I know you do not care for praise from the likes of me – but I learned more from a PPT subscription in an afternoon than in entire semesters of school. This is of course after having your free picks pay for my subscriptions indefinitely.
Thank you
Market is very close to an extreme resistance point. Risk is to the upside!!!. I will not buy at these levels even if I missed a 1000 point rally. I have initiated the year 100% cash and today I bought my first short positions:
I have bought 300 Shares VXX @36.79
I have bought 1000 shares [email protected]
I have bought 1000 shares [email protected]
I see the resistance shy of 11800s. I indicated this level last year as a potential reversal point to the move up. Currencies started their move and money rotation into the new year is due. I expect a nasty January so get ready and be warned….
I normally go, but I can’t this year, but JP Morgan Health Conf in San Fran starts next week….I love that thing so much cuz I can talk to the CEO’s and get a real feel for them. Expect a lot of small bio news coming out. fwiw.
Get a “feel” for them?
Bazzinga!
“Please cough!”
_____
Or, from them.
A feel for a CEO!? You can talk to your local politician with the same success.
Exactly! In addition to whatever good business skills, etc. They are among the finest actors you will meet. At least the ones worth their salt. Keep plans and strategies tight from competitors and all that.
Wheres my 40 points
Got beat at tiddly-winks again?
JOSB – Buy 1 share, get THREE FREE, now through Friday.
ROFL.
Next they’ll have a little Malay guy who comes out at the end….
An’ doan fo-get you FLEE BELLRT wit every puh-chuss!!”
______
As fortold with yesterday’s PPT print of 3.12
How about the 3.15+ prints on 12/1, 12/2 & 12/3 – what did that tell you?
I made a little bit of change in EDZ playing the “downturn” from the >3.10 readings. It required some averaging down and I only eeked out a small gain. Not really in the mood to tempt fate like that again.
JOSB? Bought two suits from them, ONCE. Crap. They make Men’s Warehouse look like the fourth for bridge with Brooks Brothers, Barneys and Armani. Their stock should be as shorted as their quality.
JOSB – they do have annoying cheap ass commercials. LOL. But I picked up some nice shirts!
Joseph A Bank = Josephibankcoin?